Daily Rundown

April 8, 2026

Chart of the Day

Number of the Day

26,000 - ADP's estimate of the average change in private payrolls in the four weeks through March 20, the fastest pace in the eight-month history of the series

Quote of the Day

"There (core inflation), the story hasn't changed very much." - New York Fed President John Williams

Tuesday's Highlights

Durable goods orders (February) fell by 1.4 percent. Core capital goods orders were up by 0.6 percent, bouncing back from a drop in January.

Consumer credit (February) moved higher by a healthy $9.5 billion, led by an $8.8 billion increase in nonrevolving debt.

Wholesale used vehicle prices (March) rose by 1.4 percent on the month and 6.2 percent year-over-year.

Quick Commentary

The ceasefire announced last night has already brightened the near-term economic outlook by pushing energy prices lower and boosting risk assets. The economy has gotten off to a solid start in 2026 thanks to AI spending, fiscal stimulus, and tariff reductions, and would very likely build upon that momentum should the status quo hold. There are still slow-moving endogenous risks facing this expansion, but the faster-moving exogenous risk, at least for now, has been dampened.

Today's Highlights

FOMC minutes

Mortgage applications

Delta earnings

Daily Trivia

What U.S. city was the birthplace of both the fourth richest person in the world and the fourth most valuable company by market cap?

(Tuesday's Question: What company's percussive theme song, developed in 2013 for an ad campaign entitled 'Curb Appeal', has been streamed more than 31 million times on Spotify? Answer: Home Depot)